We are hearing more and more lately about the fusion of AI and IoT, or AIoT in the workplace. There are a number of very cool applications of AIoT already in place in the retail space. These applications are helping retailers use IoT and AI in their stores to learn about customer behaviors, reduce theft, and streamline shopping experiences, to name a few. The article that follows details five such applications and explains some of the benefits that are being derived from them
The Internet of Things (IoT) has spurred a fascinating progression concerning connected devices and the benefits they bring. Today, many IoT gadgets also depend on artificial intelligence (AI) to provide even more advantages. Thus, this combination has created a set of products called AIoT.
Read on to discover five examples of how IoT-based retail solutions are improving due to AI.
1. SMART CAMERAS
Security cameras are essential in the retail sector to deter shoplifters. Walmart confirmed that it installed AI-enabled security cameras in more than 1,000 stores. These computer vision-equipped cameras can recognize shoppers’ faces and tell if they try to walk off with merchandise at a self-checkout station without scanning it.
There’s also a company called agrex.ai that blends smart cameras with an analytics capability. Besides offering clients cameras that can give real-time insights about suspicious happenings, users can rely on the collected analytics to see which areas of a store are most popular, where customer bottlenecks occur, and more.
Although the potential for these advanced cameras is evident, many people are apprehensive about how the equipment could lead to privacy concerns or cause customer profiling. Thus, retailers have some obstacles to clear if they want to strike a balance between reducing thefts and making customers feel comfortable.